Allspring Global Investments Holdings LLC Has $929,000 Position in Arrow Electronics, Inc. (NYSE:ARW)

Allspring Global Investments Holdings LLC raised its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,343 shares of the technology company’s stock after purchasing an additional 1,030 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arrow Electronics were worth $929,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC acquired a new position in shares of Arrow Electronics in the third quarter worth $31,000. Brooklyn Investment Group bought a new stake in shares of Arrow Electronics in the third quarter valued at about $40,000. Capital Performance Advisors LLP acquired a new position in Arrow Electronics in the third quarter worth about $73,000. DekaBank Deutsche Girozentrale acquired a new position in Arrow Electronics in the third quarter worth about $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arrow Electronics during the third quarter worth approximately $88,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Raymond James reduced their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Finally, Truist Financial lowered their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $121.25.

Insider Activity

In related news, CAO Yun Sung Cho sold 237 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the completion of the transaction, the chief accounting officer now directly owns 2,086 shares in the company, valued at $226,810.78. This represents a 10.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $111.52 on Monday. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 0.53 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. The company has a 50-day simple moving average of $113.71 and a 200 day simple moving average of $122.38. Arrow Electronics, Inc. has a 52 week low of $105.00 and a 52 week high of $137.80.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. On average, sell-side analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Arrow Electronics Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.